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<br />Economic Development Authority Minutes <br />December 14, 1998 <br /> <br />Page 2 <br /> <br />e <br /> <br />COMMISSIONER GONGOLL MOVED TO ADOPT EDA RESOLUTION 98-8 A <br />RESOLUTION MODIFYING THE BUDGET IN TAX INCREMENT FINANCING DISTRICT NO. <br />9. COMMISSIONER FARBER SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />6. <br /> <br />Consider Resolution Approvina Administrative Budaet Modification - Tax <br />Increment District No. 18 <br /> <br />Paul Steinman explained that the purpose of the budget modification is to <br />reallocate costs within the current budget. He indicated that the cost of public <br />improvements increased due to a new estimation of the cost of completing the <br />controlled railroad crossing on 171st Avenue. He reviewed the modification to <br />the budget as indicated. <br /> <br />Total <br /> <br />Current <br />$0 <br />$300,000 <br />$355,000 <br />$ 25,000 <br />$ 68.000 <br />$748,000 <br /> <br />Modification <br />$0 <br />$0 <br />$ 550,000 <br />$130,000 <br />$ 68.000 <br />$748,000 <br /> <br />Land acquisition <br />Site Improvements <br />Public Improvements (includes local contribution) <br />Interest ' <br />Administration <br /> <br />COMMISSIONER FARBER MOVED TO ADOPT EDA RESOLUTION 98- 9 MODIFYING <br />THE BUDGET IN TAX INCREMENT FINANCING DISTRICT NO. 18. COMMISSIONER <br />BENDER SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />e <br /> <br />Consider Resolution Reauestina the Council to Call a Public Hearina for TIF <br />District No. 21 <br /> <br />7. <br /> <br />Paul Steinman indicated that he has received application for tax increment <br />financing to facilitate a company in the west business park. He explained that <br />the concept is to use tax increment to provide land up front for the project. <br /> <br />COMMISSIONER GONGOLL MOVED TO ADOPT EDA RESOLUTION 98-10 <br />REQUESTING THE CITY COUNCIL OF THE CITY OF ELK RIVER TO CALL FOR A PUBLIC <br />HEARING ON THE MODIFICATION OF DEVELOPMENT DISTRICT NO.1 AND THE <br />ESTABLISHMENT OF TAX INCREMENT FINANCING DISTRICT NO. 21. COMMISSIONER <br />DWYER SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />8. Discuss Economic Development Assistant Position <br /> <br />Paul Steinman stated that the hiring of an assistant for the Economic <br />Development office is included in the 1999 budget. Paul Steinman discussed <br />the possibility of using Jim Brimeyer of the Brimeyer Group to provide some job <br />search services for the economic development assistant. <br /> <br />COMMISSIONER BENDER MOVED TO AUTHORIZE STAFF TO PROCEED WITH <br />NEGOTIATING A CONTRACT WITH JIM BRIMEYER FOR UP TO 5,000. <br />COMMISSIONER GONGOLL SECONDED THE MOTION. THE MOTION CARRIED 5-0. <br /> <br />e <br />